Grab (NASDAQ:GRAB) Shares Gap Up – Time to Buy?

Shares of Grab Holdings Limited (NASDAQ:GRAB) gapped up prior to trading on Tuesday . The stock had previously closed at $4.03, but opened at $4.15. Grab shares last traded at $4.20, with a volume of 14,373,309 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GRAB shares. Daiwa Capital Markets began coverage on shares of Grab in a report on Wednesday. They set an “outperform” rating and a $4.60 price target on the stock. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Jefferies Financial Group decreased their price target on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Mizuho initiated coverage on Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and an average target price of $4.70.

Grab Stock Down 0.5 %

The firm has a 50-day moving average of $3.53 and a two-hundred day moving average of $3.50. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of -59.14 and a beta of 0.83. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new stake in shares of Grab in the second quarter valued at about $166,587,000. Coronation Fund Managers Ltd. lifted its position in shares of Grab by 29.7% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after acquiring an additional 10,410,574 shares during the period. Marshall Wace LLP grew its holdings in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after purchasing an additional 8,635,310 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after purchasing an additional 3,163,309 shares during the period. Finally, Prudential PLC raised its stake in shares of Grab by 13.9% in the second quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock valued at $71,803,000 after purchasing an additional 2,461,934 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

About Grab

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.